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Global growth seems to be moving, slowly but surely, along the path to recovery. The International Monetary Fund's latest World Economic Outlook predicts 3.5 percent global growth this year, up from 3.2 percent last year. In recent years, the world's major central banks have pursued unprecedentedly easy monetary policies, including what a recent Deutsche Bank report calls "multicentury all-time lows in interest rates". That, together with large-scale quantitative easing, has injected a massive $32 trillion into the global economy over the last nine years. In today's globalized world, a slight reduction in interest rates by an individual central bank can bring some benefits, beginning with weakening the currency and thus boosting exports. If all write the same number, that figure will be understood as the price, and thus the amount of compensation each traveler receives.One traveler, however, quickly realizes that writing $99 would be a better option, because it would garner that extra $2 reward, and thus a total of $101 . That traveler quickly realizes, however, that others must have had the same idea, and so decides to put down $98 instead.
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